Common use of HOLD ON ACCOUNTS OR TRANSACTIONS Clause in Contracts

HOLD ON ACCOUNTS OR TRANSACTIONS. DUCA may place a hold on: a) the proceeds of an Instrument presented by the Member until DUCA accepts payment of, or remittance for, such Instrument; and. b) the Account generally if i) DUCA becomes aware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Member, DUCA, Central 1, or an identifiable Third Party; ii) an issue arises as to who the proper signing authorities are on the Account; or iii) a claim is made by a Third Party to the funds in the Account which, in XXXX’x sole discretion, is potentially legitimate. The Member authorizes DUCA to make such inquiries and do such things, at the Member’s expense, as DUCA deems necessary to resolve any of the issues noted above, including applying, at the Member’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court.

HOLD ON ACCOUNTS OR TRANSACTIONS. DUCA may place a hold on: a) the proceeds of an Instrument presented by the Member until DUCA accepts payment of, or remittance orremittance for, such Instrument; and. b) the Account generally if i) DUCA becomes aware becomesaware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Member, DUCA, Central 1, or an identifiable Third Party; ii) an issue arises as to who the proper signing authorities are on the Account; or iii) a claim is made by a Third Party to the funds in the Account which, in XXXX’x DUCA ’s sole discretion, is potentially legitimate. The Member authorizes DUCA to make such inquiries and do such things, at the Member’s expense, as DUCA deems necessary to resolve any of the issues noted above, including applying, at the Member’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court.

HOLD ON ACCOUNTS OR TRANSACTIONS. DUCA XXXX may place a hold on: a) the proceeds of an Instrument presented by the Member until DUCA XXXX accepts payment of, or remittance orremittance for, such Instrument; and. b) the Account generally if i) DUCA becomes aware XXXX becomesaware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Member, DUCAXXXX, Central 1, or an identifiable Third Party; ii) an issue arises as to who the proper signing authorities are on the Account; or iii) a claim is made by a Third Party to the funds in the Account which, in XXXX’x XXXX ’s sole discretion, is potentially legitimate. The Member authorizes DUCA XXXX to make such inquiries and do such things, at the Member’s expense, as DUCA XXXX deems necessary to resolve any of the issues noted above, including applying, at the Member’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court.